July sales were weaker than expected. Summer can be a volatile season for retailers but I am a little surprised by the weakness in apparel. I'll be keeping an eye on discretionary spending going forward.
More Quotes from Richard Hastings:
Retailers know that many people will wait until after Christmas for the big purchases. So they don't want to go too far into the holidays with excess inventory that they eventually will heavily discount.Richard Hastings
As long as people can find the right merchandise, have a job and borrow a little bit, they are going to go shopping. Overall, the holiday season was good. Retailers who had it all nailed down were the winners.
Richard Hastings
This is a favorable development for Saks and a big improvement to its balance sheet, which shows a lot of debt leverage,
Richard Hastings
This holiday season Wal-Mart hasn't been able to differentiate itself from the competition or really take advantage of the early wave of promotional activity.
Richard Hastings
The consumer is jittery. Rising debt levels, inflation and higher gasoline prices are all real threats and a drag on spending.
Richard Hastings
The pundits that said department stores are dying are wrong, ... This is a different channel. What you get there, in terms of brands and variety, you can't get elsewhere. There's no substitutability.
Richard Hastings
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Based on Topics: Sales Quotes, Summer QuotesBased on Keywords: discretionary
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